Money And Its Vicissitudes in Value As They Affect National Industry And Pecuni
Money And Its Vicissitudes in Value As They Affect National Industry And Pecuni
Samuel Bailey
The book Money And Its Vicissitudes in Value As They Affect National Industry And Pecuni was written by author Samuel Bailey Here you can read free online of Money And Its Vicissitudes in Value As They Affect National Industry And Pecuni book, rate and share your impressions in comments. If you don't know what to write, just answer the question: Why is Money And Its Vicissitudes in Value As They Affect National Industry And Pecuni a good or bad book?
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Public and private loans and other contracts fared alike. The paper- money would no longer command the quantity of gold promised on the face of the notes, and, therefore, in effect the lender received only part of that quantity of metal which the bor- rower had covenanted to pay. Nothing could be a grosser violation of justice, and nothing but profound ignorance of the nature of pecu- niary bargains could have led a government with any pretensions to morality, into measures the effect of which ...was to commit an unsus- pected fraud under the mask of law. And yet the matter is so simple, the truth so plain, that we are astonished how they could help per- ceiving it. The confusion of ideas on the subject could never have prevailed but for the accidental circumstance that the term pound had lost its original meaning, and was no longer a designation of weight when applied to the currency. Had bank notes distinctly ex- pressed in ounces or grains the quantity of gold which they represented, the dullest intellect could scarcely have been deceived.
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